Abstract:Supply chain is a network of facilities with varying conflicting objectives and decision making is a complex process. The uncertainty in demand increases complexity in inventory control mechanism. Backordering, partial backordering and lost-sales are considered in the inventory management to characterise the excess demand. In the present competitive scenario, mostly consumers have no patience to wait and show urgency to buy their goods failing which the management has to meet a huge loss of supply chain member… Show more
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